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Pan African Resources Plc - Transaction in Own Shares

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Pan African Resources PLC

(Incorporated and registered in England and Wales under the Companies Act 1985 with registered number 3937466 on 25 February 2000)

Share code on AIM: PAF

Share code on JSE: PAN

ISIN: GB0004300496

ADR ticker code: PAFRY

(“Pan African” or the “Company” or the “Group”)

PAN AFRICAN RESOURCES PLC TRANSACTION IN OWN SHARES

Pan African, the South African gold producer, announces that on 9 May 2022, in accordance with the terms of its share buyback programme announced on 1 April 2022 (the “Programme”) it purchased the following number of ordinary shares of £0.01 each in the Company (“Ordinary Shares”) through Peel Hunt LLP (“Peel Hunt”) and RMB Morgan Stanley (“RMBMS”). The shares purchased will be cancelled.

Date of purchases

9 May 2022

Aggregate number of Ordinary Shares purchased

345,474

London Stock Exchange (“LSE”) purchases

Number of Ordinary Shares purchased on LSE

-

Lowest price paid per share (pence per share):

-

Highest price paid per share (pence per share):

-

Volume weighted average price paid per share (pence per share):

-

Johannesburg Stock Exchange (“JSE”) purchases

Number of Ordinary Shares purchased on JSE

345,474

Lowest price paid per share (ZAr per share):

415.00

Highest price paid per share (ZAr per share):

433.00

Volume weighted average price paid per share (ZAr per share):

420.47

Following the purchase, the Company will have 2,222,862,046 Ordinary Shares of £0.01 each in issue, of which 306,358,058 Ordinary Shares are held in treasury.

The above figure of 2,222,862,046 may be used by shareholders as the denominator for calculating whether they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

In accordance with Article 5(1)(b) of the UK version of Regulation (EU) No. 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, the tables below contain detailed information of the individual trades made by Peel Hunt as part of the Programme. The same information is also included for the trades made by RMBMS.

Individual transactions on LSE:

Number of shares purchased

Transaction price (pence per share)

Time of transaction

Execution venue

-

-

-

-

Individual transactions on JSE:

Number of shares purchased

Transaction price (ZAr per share)

Time of transaction

Execution venue

4,002

433.00

09:00:46

JSE

3,743

430.00

09:07:39

JSE

922

429.00

09:07:40

JSE

2,553

429.00

09:07:40

JSE

804

429.00

09:07:41

JSE

3,789

428.00

09:23:52

JSE

3,891

430.00

09:28:32

JSE

785

430.00

09:33:29

JSE

3,479

430.00

09:33:29

JSE

8,118

427.00

09:37:49

JSE

3,290

429.00

09:49:03

JSE

853

429.00

09:49:03

JSE

3,760

429.00

09:54:18

JSE

3,830

429.00

09:58:48

JSE

3,695

429.00

10:03:47

JSE

4,152

429.00

10:08:30

JSE

4,028

428.00

10:13:42

JSE

3,085

426.00

10:13:45

JSE

4,082

426.00

10:13:45

JSE

2,439

424.00

10:16:06

JSE

1,187

424.00

10:16:06

JSE

144

424.00

10:16:06

JSE

17

424.00

10:32:24

JSE

4,625

422.00

10:32:24

JSE

4,206

424.00

10:32:24

JSE

4,183

421.00

10:35:36

JSE

4,173

421.00

10:35:36

JSE

4,133

423.00

10:54:00

JSE

3,853

420.00

10:55:24

JSE

4,029

420.00

10:55:24

JSE

3,972

420.00

11:09:05

JSE

12,434

419.00

11:11:31

JSE

3,734

419.00

11:33:24

JSE

3,758

419.00

11:35:19

JSE

7,347

419.00

11:35:55

JSE

4,286

420.00

11:48:22

JSE

1,313

420.00

11:53:48

JSE

3,181

420.00

11:53:48

JSE

4,333

420.00

11:59:34

JSE

143

420.00

12:04:48

JSE

4,204

420.00

12:04:48

JSE

813

420.00

12:11:23

JSE

3,064

420.00

12:11:23

JSE

3,777

420.00

12:15:11

JSE

3,694

417.00

12:15:12

JSE

7,403

418.00

12:15:12

JSE

4,435

415.00

12:33:50

JSE

4,179

415.00

12:39:21

JSE

3,756

415.00

12:48:45

JSE

6,108

417.00

13:01:51

JSE

6,366

417.00

13:01:51

JSE

4,173

417.00

13:05:10

JSE

4,236

417.00

13:10:23

JSE

4,436

417.00

13:15:42

JSE

3,942

418.00

13:21:18

JSE

3,839

417.00

13:26:09

JSE

101

417.00

13:30:59

JSE

4,061

418.00

13:35:14

JSE

4,474

418.00

13:36:13

JSE

1,521

417.00

13:37:24

JSE

2,348

417.00

13:37:24

JSE

4,048

417.00

13:37:25

JSE

3,942

417.00

13:37:25

JSE

4,334

418.00

13:56:43

JSE

3,716

419.00

14:02:26

JSE

3,947

416.00

14:04:12

JSE

4,393

419.00

14:17:17

JSE

3,868

419.00

14:17:35

JSE

332

416.00

14:20:17

JSE

1,210

419.00

14:27:35

JSE

1,254

419.00

14:27:35

JSE

5,000

419.00

14:27:35

JSE

1,790

419.00

14:32:00

JSE

2,550

419.00

14:32:00

JSE

4,030

419.00

15:00:08

JSE

3,729

419.00

15:06:20

JSE

4,386

419.00

15:09:45

JSE

2,203

420.00

15:13:37

JSE

115

420.00

15:13:55

JSE

1,275

420.00

15:14:50

JSE

99

420.00

15:15:05

JSE

219

420.00

15:16:46

JSE

1,787

420.00

15:17:03

JSE

171

420.00

15:17:22

JSE

891

420.00

15:18:28

JSE

167

420.00

15:18:29

JSE

375

420.00

15:19:12

JSE

415

420.00

15:19:48

JSE

2,709

420.00

15:19:51

JSE

4,082

420.00

15:19:51

JSE

8,181

420.00

15:19:51

JSE

4,746

418.00

15:20:49

JSE

3,812

417.00

15:22:32

JSE

4,163

417.00

15:22:32

JSE

3,767

418.00

15:31:16

JSE

4,071

417.00

15:31:16

JSE

4,506

420.00

15:45:06

JSE

3,745

420.00

15:50:01

JSE

3,810

417.00

15:54:23

JSE

3,797

417.00

15:56:11

JSE

3,881

416.00

15:56:24

JSE

2,289

416.00

15:56:24

JSE

1,651

416.00

15:56:24

JSE

4,548

417.00

15:59:21

JSE

189

417.00

16:01:07

JSE

The information contained in this update is the responsibility of the Pan African board of directors and has not been reviewed or reported on by the Group’s external auditors.

Rosebank

10 May 2022

For further information on Pan African, please visit the Company's website at

www.panafricanresources.com

Corporate information

Corporate office
The Firs Office Building
2nd Floor, Office 204
Corner Cradock and Biermann Avenues
Rosebank, Johannesburg
South Africa
Office: + 27 (0) 11 243 2900
info@paf.co.za

Registered Office
Suite 31
Second Floor
107 Cheapside
London
EC2V 6DN
United Kingdom
Office: + 44 (0) 20 7796 8644

Chief executive officer
Cobus Loots
Office: + 27 (0) 11 243 2900

Financial director
Deon Louw
Office: + 27 (0) 11 243 2900

Head: Investor relations
Hethen Hira
Tel: + 27 (0)11 243 2900
E-mail: hhira@paf.co.za

Website: www.panafricanresources.com

Company secretary
Phil Dexter/Jane Kirton
St James's Corporate Services Limited
Office: + 44 (0) 20 7796 8644

Nominated Adviser and Joint Broker
Ross Allister/Alexander Allen
Peel Hunt LLP
Office: +44 (0) 20 7418 8900

JSE Sponsor
Ciska Kloppers
Questco Corporate Advisory Proprietary Limited
Office: + 27 (0) 11 011 9200

Joint Broker
Thomas Rider/Nick Macann
BMO Capital Markets Limited
Office: +44 (0) 20 7236 1010

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